Pioneer Property Group ASA

Report Publication Announcement • May 11, 2016

PPG financial report for Q1 2016

PPG financial report for Q1 2016

10. May 2016

The Board of Directors of Pioneer Property Group ASA has

approved the unaudited group financial results for the first

quarter of 2016. See the attached document including the

report and financial figures.

Highlights of the Q1 report:

- Total revenues in the first quarter of 2016 were MNOK

52.3, increased with full CPI-adjustments from the start of

the year.

- Revenues and profitability were in line with expectations.

Operating profit (EBIT) was MNOK 46.5 with pre-tax profit of

MNOK 22.8.

- On March 31st PPG paid its quarterly dividend to holders

of preference shares - in total NOK 1.875 per preference

share. The next scheduled dividend for preference

shareholders is at the end of the second quarter 2016. See

the company's website for updated financial calendar

information.

- The Company had total assets of MNOK 3,608, where

Investment Property (112 preschools) were valued at MNOK

3,411 in addition to a cash balance of MNOK 194. Total debt

was MNOK 1,953 and with total equity of MNOK 1,655.

Contact persons:

Runar Rønningen (CEO) - tlf +47 90690038

Martin P. Hoff (CFO) - tlf +47 47214721